Mate, I get that if you are new to the stock, I can see that 5.6 - 5.8 seems like it is a massive buy-in price, but it is not. With the movements in the SP of exploration stocks, the difference in where we closed (5.2) and 5.6-5.8 is literally a matter of minutes. Whilst it may seem that someone may have bought in above the average price today and that they "may have got sucked in", the reality is that they bought in at a cheap price for a company with this much potential. It might have seemed expensive for them today, but the market should not be judged on day to day movement - those that bought today will likely see it as cheap in a few months.
I can tell you that my original buy in price was well above what the market value is now. I thought that the potential of the company back then was excellent, and I was probably spot on at that stage but I did not expect the price of lithium (and the boom) to tank over the last few years. In hindsight, I over estimated the lithium sector and got ahead of myself. As I have stated previously, I am confident that I got the thesis right, just got the timing wrong. I have managed to get my average price down significantly by committing to the company and buying a significant amount of shares post initial investment. Someone may have been writing about me back then stating that I "had been sucked in" but it wasn't true then, and it isn't true now. I paid more then than what the market value would end up being, but it doesn't mean that over the long run that I paid too much. People that bought today may have paid more than the closing price, but I do not believe that the price will sit at the current level for long. Right now it is an amazing time to buy into this company. CXO has so much potential, only a few final boxes to tick (offtakes and finance), and absolutely no foreseeable barriers to success....Core Lithium will very likely become Core Minerals.
I am glad that the announcement today cracked some resistance lines, but there will always be more. I saw some posts this morning about the lack of sellers - sellers will always appear as the price they seek becomes a reality. New barriers will always form even if they aren't immediately apparent at the start of the days trade. I have come to learn that it actually doesn't matter, todays resistance is tomorrows support, so don't sweat the 'large' lines that may appear. Generally they are up to 2m but the reality is that any line of this size will not sit for even a minute if the announcement is strong enough. The ups and downs in the SP are just part of the game, it will often overshoot no matter the direction, just don't be surprised when it does. It matters a whole lot less when you understand the FUNDAMENTAL reasons for your initial investment. If you got the analysis right, you will not lose at any level close to now. Just do your own research and commit.
Just one final point, I still don't see how management have stuffed up in regard to releasing the announcement this morning. Yep, I have been critical of some of their decisions, but issuing cash to LTR and exploring/announcing the gold potential of our leases are not among them. Keep up the good work I reckon.
Welcome to any new holders.
CXO Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
